The BOE has published the new General Collective Bargaining Agreement for Insurance, which will come into effect on August 12. The four-year agreement includes a salary increase of 3.5% for 2025 and new measures regarding leave and social security provisions.
The Official State Bulletin has published the new General Collective Bargaining Agreement applicable to insurance companies, reinsurance companies, and mutual collaborators with Social Security. The agreement, which affects more than 75,000 professionals in the sector, will come into effect on August 12, twenty days after its official publication.
The agreement is valid for four years, from January 1, 2025, to December 31, 2028. It was signed on May 5 by the employers' associations UNESPA, AMAT, CEM, and ASECORE, representing the employers, and by the unions CCOO-Servicios and UGT, representing the workers.
The scope of the agreement covers the labour relations of insurance and reinsurance entities, reinsurance brokers, and mutual collaborators with Social Security. In other words, it covers almost the entire insurance sector in Spain.
Salary increase and new tables
One of the main innovations of the agreement is the salary increase of 3.5% for 2025, which will be applied to the final salary tables of 2024. For the following years, the agreement links salary evolution to the performance of GDP and CPI, introducing an element of flexibility related to the state of the economy.
Additionally, from 2026, salary level 9 will be eliminated, and minimum annual global compensations of 20,000 euros for level 7 and 18,000 euros for level 8 will be established. These changes aim to simplify the salary structure and ensure higher minimum incomes for workers in the lower levels.
The agreement also includes improvements in employer contributions to complementary social security systems, an element that UNESPA president Mirenchu del Valle directly links to promoting long-term savings.
More leave and equality measures
The new agreement includes innovations regarding leave, occupational health, equality, and inclusion. Although the BOE text does not detail all the changes, industry sources indicate that some existing leave has been expanded and new types have been created, in line with trends in work-life balance.
In terms of equality, the agreement strengthens measures to ensure non-discrimination and promote a balanced presence of women and men at all professional levels. Improvements in occupational health are also introduced, with special attention to psychosocial risks and the prevention of work-related stress.
“This agreement provides stability and certainty to more than 75,000 professionals in the sector,” highlighted Mirenchu del Valle, president of UNESPA, after the publication in the BOE. “It is the culmination of an agreement that demonstrates the value of social dialogue and the capacity for understanding in our sector.”
Del Valle emphasized that the agreement reinforces the sector's commitment “in a constantly changing environment” and contributes to a model of labour relations “that is modern, balanced, and capable of attracting and retaining talent.”
A collective success
The president of UNESPA wanted to thank the work of the business and union representatives who participated in the negotiation. “Behind a collective agreement, there is a lot of work, many hours, and much dedication. This is undoubtedly a collective success of which we can be proud,” she noted on her LinkedIn profile.
The agreement will apply to all companies in the insurance, reinsurance, and mutual collaborators with Social Security sectors in Spain. Companies will need to adapt their salary tables and working conditions from August 12, the effective date.
For workers in the sector, the main practical novelty is the salary increase of 3.5% for 2025, which will be reflected in paychecks starting in August. Additionally, the new minimum compensations ensure higher incomes for levels 7 and 8 starting in 2026.
The agreement also represents progress in complementary social security, with higher employer contributions to pension plans or similar systems. This could mean additional long-term savings for employees.
The new agreement will be in effect until December 31, 2028. During this period, the parties commit to monitoring its implementation and negotiating possible adjustments if economic developments require it.
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